Bristol Myers Squibb (BMY) closed the most recent trading day at $68.20, moving +0.19% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Coming into today, shares of the biopharmaceutical company had lost 2.74% in the past month. In that same time, the Medical sector gained 0.9%, while the S&P 500 gained 0.07%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be April 27, 2023. On that day, Bristol Myers Squibb is projected to report earnings of $2.01 per share, which would represent year-over-year growth of 2.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.64 billion, down 0.1% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.06 per share and revenue of $47.01 billion, which would represent changes of +4.68% and +1.84%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.12% lower. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 8.44 right now. This represents a discount compared to its industry's average Forward P/E of 19.44.
Also, we should mention that BMY has a PEG ratio of 1.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.77 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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